EU's Bold Step: €90 Billion Loan to Ukraine and New Sanctions on Russia
The European Union has formally approved a €90 billion loan to Ukraine along with new sanctions against Russia. The EU's strategy aims to support Ukraine while pressuring Russia to achieve lasting peace. The decision followed Hungary lifting its veto, allowing formal approval.
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In a decisive move, the European Union has sanctioned a €90 billion loan to aid Ukraine and imposed a fresh set of sanctions against Russia. These steps are part of the EU's two-pronged strategy to buttress Ukraine while escalating pressure on Russia to secure a just and enduring peace.
The announcement was made public via the bloc's Cypriot presidency on the social media platform X. European Council President Antonio Costa highlighted the significance of these measures, tweeting that the EU has progressed on both fronts of its peace strategy today.
This development comes after EU ambassadors agreed on the loan and sanctions on Wednesday, following the withdrawal of Hungary's veto. This paved the way for the formal ratification of these pivotal actions, underscoring the EU's commitment to regional stability.
(With inputs from agencies.)
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